(SITUATION-CRITICAL). WE HAVE A PROBLEM. “DOWNSTREAM EFFECT.” LIQUIDITY CRISIS WORSENS. Mannarino
Here we go. It’s me, Gregory Manarino. Wednesday, April 9th, 2025, PMarket Report.
People, I want to start off with, again, what is the driver of these markets? And we’re seeing something here that is not very good. This is CNBC this morning. Bonds crater, 10-year yield spikes briefly above 4.5%. It’s a little lower right now.
As you all know, if you’ve been with me for any length of time, the force here that prices everything, sets the price for mortgages, sets the price for equities and everything else, is off of the benchmark yield, the 10-year yield. The bond market is the main driver of this entire thing. Now, up until recently, honestly, we had nothing but a normal corrective phase, which we haven’t had in a very long time.
But now we’re seeing something a little bit more. You and I understand clearly, at least you should, if you’ve been with me for any length of time, the debt market is a time bomb. The system is absolutely illiquid.
We’re running out of cash, despite the fact that the world appears to be debt saturated. People, you know the paradox. The paradox is this.
The entire financial system itself globally operates in a perpetual deficit that can never be filled. And the mechanism, every mechanism imaginable, things you can’t even dream about like war, expanding war, even currency purchasing power destruction, artificially suppressed rates, this is going to be utilized to keep the system afloat a little bit longer. Now, with this spiking that we’re seeing here in the 10-year yield, it’s sending us a bad sign.
Let me read something to you real quick. This is in your inbox again, people. If you subscribe to my newsletter, it’s free.
This is there right now for you. I outline something called the downstream effect. Some of you might be familiar with this.
Some of you maybe not. Let me read this to you real quick, okay? This is, again, in your inbox. It’s for you guys and girls so you can understand what you’re seeing.
So let me read this to you. So Lions, the 10-year yield is spiking this morning and that is a concern. This is a warning shot across the bow of risk assets.
And what we’re seeing right now may just be the prelude to something much bigger if we continue to see this downstream effect play out. So let’s go on here. Liquidity is drying up faster.
Any surprise to you? No, because I’ve been screaming from every rooftop I can find that we have a big problem here. And the bond market, as always, is speaking loud and people, we need to listen. The higher the yield climbs, the more pressure on equities.
You know this. We’ve covered it a million, billion times. And with that, stock futures are dropping.
This is what stock futures look like this morning. Down again across the board. Let us move forward.
Lions, what we’re seeing here is called the downstream effect. The downstream effect, and this is not good. Now this is what the downstream effect is if you want to define it.
So so-called smart money sees what’s going on before everybody else here. And if yields continue to climb the way that they do, you can expect smart money to run out of this market. Sell America.
Okay, that’s really what’s going to happen here. And this is going to have a ripple effect around the entire world. No doubt about it.
So we could be sitting up here for a much larger drop in the stock market. So I finished off with this. Lions, more cracks are forming under the surface.
Now these cracks to some, to some, not you, just look like cracks. But to you and I, I and I, we see these as windows, windows that we can peer through and get a glimpse as to what’s happening. So what is actually going on here? Look, man, I’m not going to sit here and beat up on President Trump.
What I am telling you is this, it wouldn’t matter if it were a farm animal sitting behind the resolute desk, if they, if they reinstated the creature Biden, or they put Kamala, I’m telling you the truth. We do not have an economic policy here in the United States. What is it? It’s tariffs.
Let me tell you something about tariffs. They weren’t even President Trump’s idea. Peter Navarro, this guy here, who’s Trump’s key advisor, apparently they’re going to throw this guy under the bus.
He was the architect for what we’re seeing here. It wasn’t President Trump. Imagine all surprise.
I told you they don’t pull the strings and Navarro here. Look, man, I understand that people make mistakes and they pay their debts to society. This guy was in prison a year ago, and now he’s the key advisor to the president of the United States.
And what we’re seeing right now is his idea. He’s the architect, Peter Navarro, the architect of President Trump’s plan. And it looks like they’re throwing them under the freaking bus here.
I mean, he’s a perfect guy throw under the bus. Last year, this guy was in prison. Now, all of a sudden he’s being demonized and being blamed for what we’re seeing right now.
I don’t, you know, look, man, I don’t buy that. Let me say this too. I was an officer in the United States Navy.
Okay. I was responsible for the people under me. You understand? In other words, if they screwed up, guess what? I was responsible for it.
The same thing here. The same thing here. President Trump has embraced this.
There’s no economic policy here. Again, tariffs are not an economic policy. You know, what’s really going on here.
This is a deconstruction of the system. There’s no negotiation. If President Trump really wanted to fix this, he would have sat down with world leaders and negotiated a deal.
That’s not what he did. He hit the world on Navarro. Apparently, Navarro is the architect of this whole tariff issue here.
Trump looked at this and said, hey, this is a really great idea, implemented it, and now Navarro is getting thrown under the bus. But apparently, look, man, you guys are going to know this is much bigger. We have really, the central banks run the entire show.
They need to put people in positions of power to allow them to fulfill their goal, their end game. Their end game is to bring us to our knees, to destroy the economy, to wipe out the middle class. We become dependent on the current system, slaves to the system, dependency.
Sound familiar? I’ve only been telling you this for a thousand years. So again, that’s why there was no negotiation here. That’s why we have no economic policy.
We have zero economic policy, and this is a loss of confidence. A loss of confidence is creating this downstream effect. It’s creating this downstream effect.
So what it appears is again, bear with me, guys and girls, man. Look, a normal corrective phase is now tumbling into something else. If we do not see the 10-year yield drop or get under control, this can get so bent out of shape so fast, your head’s going to spin around like the freaking axis of people.
The economy is being destroyed from within. We’re being destroyed from within. And again, Pino Navarro, the architect, the architect of Trump’s tariff policy, it looks like he’s getting thrown under the bus.
Personally, look, man, if this was a farm animal sitting behind the Roosevelt desk, it would be their fault because the farm animal would be the one that instituted Navarro’s policy. This is Trump’s fault. And it’s a loss of confidence on the back of having no economic policy except tariffs and war.
And this war in Yemen is getting worse, and we’re spending hundreds of billions of dollars to keep it going. And why? Not to fight terrorism, not to keep shipping lanes open, but to pull cash into the system that is illiquid. We are running out of cash.
How do I say this to you guys and girls in another way? We are marching right up into that credit freeze moment that I’ve been warning about for 10 years. People take action. I am telling you to take action.
Prepare for what’s happening here, what is going to happen. They’re going to lock up the system, and this is not by accident, no comedy of errors. If we know all this, do you think they don’t know all this? Are you shocked to find out that this tariff policy isn’t even Trump’s idea, that it’s Peter Navarro? Or apparently it is.
They’re telling us that he is because they’re going to throw him under the bus. Unbelievable. You can’t make this stuff up.
It’s completely insane. The dollar is dead. It’s dying here.
It’s hoping for some kind of a lifeline in the form of sharply higher rates or something. It’s not going to get it. The dollar is being driven into the ground like a pile driver.
We’re still hearing calls from President Trump for a weaker dollar. We’re still hearing calls from President Trump for lower rates. Maybe that’s not his idea either.
Maybe that’s Navarro’s idea as well. I have no idea. Why was this guy selected? You didn’t elect anybody.
He was selected to finish off the system, to bring us to our knees, to make us beg for a new system. Why do you think people will be in the crypto capital of the world, not the constitutional money capital of the world, wake up? Why is it that we have a zero economic policy in place? You can’t make it up. Crude oil getting hit pretty good.
Gold and silver doing well. Bitcoin, cryptocurrencies doing what they’re doing here, people. Anyway, look, I really hope you guys and girls, what we’re seeing here, let me say this one more time, all right? Being that the United States, I am not picking on Trump.
You tell me where I got this wrong, okay? We have no economic policy. Tariffs are not an economic freaking policy. Wake up some of you that are possessed or dispossessed.
I don’t know what’s wrong with you guys and girls. Wake the freak up. We got to start pushing back.
We got to unify as one voice. I and I, man, let’s put a dent in this system. We’re being destroyed.
Wait, do you not see this yet? Honestly, some of you are still locked in that it’s Biden’s fault, whoever, no, okay? That’s what they’re going to tell you. It’s so-and-so’s fault. Now it’s Navarro’s fault.
Make this stuff up. The tariffs, what we’re seeing here, this loss of confidence in the United States, which is being deliberately erased along with the middle class of the United States and around the world, central banks in full control. This is Navarro’s fault.
It’s not President Trump’s. He doesn’t know he’s the commander-in-chief. Make this stuff up.
I tell you guys and girls, we are really in for something. And look, man, it’s not about portfolios. It’s not about material wealth.
They want it all from us. They want our soul. They want our spirit.
They want our hopes and dreams. Sound about right to you? That’s what they want, and that’s what they’re going to get. And when the system locks up, because we are rapidly running out of cash, we are in a full-blown currency crisis, a full-blown liquidity crisis, at the same time, a debt crisis that is insurmountable here.
Nothing’s being put in a way to stop it. Tariffs aren’t going to fix a damn thing. Maybe that was Navarro’s idea, too, that Trump said, hey, you know, that sounds really good.
It’s a nice catchphrase, so let’s use it. Trump knows it’s not true. The man went to Wharton Business School.
There is no way he could have graduated from Wharton Business School and not understand what he’s seeing. Unless, of course, he is the duppy, which I’ve been telling you, which is alignment with the dark side. That’s what we’re talking about.
Finally, you’re waking up, guys and girls. What can I tell you? Look, man, this is what we’re going to do, you and me. If we understand that the current system is being deliberately taken apart and inflated, if we understand that every world leader today, including Donald Trump, the duppy, is working with their respective central bank to make them stronger and more powerful by allowing them to continue to pump debt into the system.
Yesterday, hearing from the Federal Reserve wasn’t enough to keep the market propped up. It’s a loss of confidence. The system runs on confidence, people.
Once confidence is lost, this whole thing ends. And if you think that your cost of living is bad now, I already told you a month ago, six months from that time, so five months from now, the countdown has begun. This here is going to be unrecognizable in the United States of America, or whatever’s left of it.
You guys and girls starting to see the light now, or are you still left in the dark? People, listen to me. I am working as hard as I can, as hard as I can. I couldn’t work any harder.
I’m tired. I’m not going to lie, man. And I am working hard as I can to keep you guys and girls in the loop, to make you guys and girls understand what’s going on here.
And I think I’m getting through to 99% of you. I want that other 0.1% to start to get with us on this program, join this pride of lions who are looking to unify, okay, so we can push back as one voice against the system that is destroying us. We need a real economic policy.
We’re not going to get one. As I said, tariffs are not an economic policy. We’re being wiped out.
And a loss of confidence has the potential to wreak havoc on the markets of the world, and they’re not real. I understand that. It’s not about portfolios.
It’s not about dollars and cents, because if that’s where your wealth lies, well, then you’ve already lost, okay? You’ve already lost. I don’t know what else to say with you guys and girls. Listen, just real quick.
I did do a whole new breakdown with trades on my website, traderschoice.net. It’s all playing out, okay? For those of you, look, man, I got your back no matter where you stand right here. You want to take advantage of the situation? I got your back there, too. There’s a link in the description of this video.
Go check it out, people. Look, man, we’re going to continue to bet against the system, hoard gold and especially silver, bet against the system that is imploding on itself. And a loss of confidence, we may be here right now, people.
Again, this downstream effect, we may be at the beginning of something much, much more dramatic and much worse here. That means those of you that were relying on your investments to carry you through to retirement, you’re going to have nothing. You’re going to have zero, okay? Not that this was ever real.
You know that, but you need to take action. Right now, it’s about preservation of capital, you understand? For this market, especially in light of this downstream effect that’s going on right now and the loss of confidence in the United States. This isolationist policy that probably isn’t President Trump’s idea.
Again, we just found out that Peter Navarro is the architect. It isn’t even Trump’s plan with regard to what we’re seeing here with tariffs. What’s in Trump’s plan? What else is not Trump’s plan? I already told you, he’s a puppet.
He’s a puppet. All presidents are puppet. Bidenstein creature, what do you think he was there to? The guy couldn’t put a coherent sentence together.
You think he was really the leader of the free world? No, they’re all puppets, man. We’re out for each other. We got to look out for each other.
Does this sound about right to you people? And that’s exactly what we’re going to do. And the beauty of this is we’re going to have to change the damn thing. We’re going to continue to do what we’ve been doing since day one, hoarding hard assets, realizing what’s going to… People, let me explain this to you.
As the dollar is dissolved and you see it dissolving right before your eye, as the purchasing power is stolen, which is the… This is the grandest, most diabolical theft in the history of the world. You got President Trump here continuing to scream from rooftops about a weaker dollar, about lower rates, and the Federal Reserve, who’s foaming at the mouth and spraying their underwear, okay? Because this is exactly what they want. They got a puppet there demanding the things that the Fed wants to do, which allows them to get stronger.
War? Who pays for this war? There’s war in Yemen here going on now for nearly a month around the clock, 24 hours a day. Where’s that cash come from? We have a stash somewhere? No, it comes right from the Fed. Trump was on the phone with Powell.
Listen, I need money. I need cash. Keep doing this.
It’s getting added to the national debt, hundreds and hundreds of billions of dollars. We’re not saving anything. You would lie to… Admit it.
Admit it and realize you’ll be free. Once you realize you were lied to across the board with where you were led to, and we didn’t even have an election. This was a selection here, not by you, but by the overlords, okay? This is a neo-feudalistic society that’s evolving very rapidly, and they want you gone in the literal sense.
You don’t matter. You’re nothing but a means to an end. But you know something? That’s not true.
You and me, we have forged an alliance together, and this family of lions that we have built, we have power. We have strength. Lions, roar.
Let your voice be heard. Sound about right to you? I would have to say. Now, listen, I got a little problem here.
My wife, Lorraine, her parents are flying in here today, and they’re going to be here for just about 10 days. That’s going to put a strain on me with regard to being able to keep on top of this market with able to get these videos out for you, but I’m going to try. So you may not see me later today.
I am going to at least do my morning videos, okay? But later on today, I may not do a live stream. I’m going to try, guys and girls, but I am stretched out so thin right now. At the end of the day, I am so tired, I can’t barely even walk to bed anymore.
I have put so much pressure on myself, so much strain on myself, but I’m willing to do that for all of you, because my responsibility to you guys and girls is huge. It’s huge. I carry a lot of weight.
I want to carry that weight. The weight that I carry gives me strength as the daddy lion here, okay? But I need you guys and girls behind me. I need you guys and girls behind me here.
This is our thing, okay? And when I’m not here, I need you guys and girls to reflect on the things that we’ve spoken about, like today, for example, if I can’t do a video. Start getting yourself, again, understanding what’s actually happening. We’re seeing a loss of confidence in the system, and it’s not being taken away by accident or anything else.
This is a literal, deliberate destruction of the United States to bring us to our knees, to issue in a new system. It’s President Trump the duppy working with the Federal Reserve, which is the most diabolic institution in the history of the world. Central banking is a curse upon mankind.
We cannot be a free people living like we are now. Do you see it? Do you feel it? Is it palpable to you? Yeah. I think you’d have to agree with Greg Manorino here.
All right, guys, listen. So as I said, ponder what we said. This is in your inbox.
You can understand what’s going on. Keep your eyes on that 10-year yield today. I may not be able to do it, people.
Like I said, I have the family in town. I got to do my little entertaining thing, and it’s not easy. Not that I’m not looking forward to it, okay? But that’s where we stand, guys and girls.
You know where we stand? I and I, you and I. I and I, we are united. We are one. We are one voice.
And we together have enough power to not just make a dent in what’s going on, but punch a hole right through it, people. We got to stand up for each other. Does that sound about right to you? All right, guys and girls, I’m going to let you go.
I love all of you with all I got, man. We need to come together, man. And I’ll see you.
I’ll see you when I can. If I can’t see you later today, I will see you in the morning. But you got this, guys and girls.
I believe with all I have that I have enlightened you all as to the system, how it works. You’ve seen the dark side. You’ve traveled there with me, okay? We’re here now.
We understand it. We know what’s going on here. You’ve learned things more than likely here in this following my work and our work here that you’re never going to hear anywhere.
You have no idea how many people write to me, Greg. I’ve been to business school. I’ve done this, that, and the other thing.
I’ve never heard this kind of stuff before. I’ve learned so much from you, Greg. It’s not me.
Look, man. I am seriously nobody special. I am the least special of anybody here.
I’m just a guy who’s awake. I’m a guy who pays attention, a guy who cares from my heart about every single one of you. And I want to provide you with actionable information to the best of my ability.
And I really believe in my heart that I’ve done that. So I’ve succeeded. And we are succeeding together because we are winners.
This channel is for winners. It’s not for everybody, okay? Look for the pushback. Expect it.
And laugh. Honestly, I don’t know what else to say. Hopefully, these people will come around too.
I’ll see you, all right? I’ll see you guys.
